Bao Viet comes to the rescue

illustration photo

Some 86 per cent out of 120,000 Bao Viet Holding (BVH) shares matched were bought by foreigners, which pushed the stock to VND79,500.

They also buying in Sacombank (STB) at 1.1 million shares as the stock had fell to below VND14,000. The buying volume made by foreign investors reached 3.7 million shares, worth VND93 billion ($4.5 million).

Masan Group (MSN) and Vincom Corp. (VIC) received strong support as well, strongly contributing to the Ho Chi Minh Stock Exchange’s (HoSE) gain.

Finance shares largely rose, among them major stocks Saigon Securities Inc. (SSI) gaining 1.36 per cent, Vietinbank (CTG) 2.87 per cent and PetroVietnam Finance 0.51 per cent.

The VN-Index saw a sudden rebound at the session’s end. At the close, the benchmark rose 6.89 points (1.52 per cent) to 459.23 points. Liquidity, however, remained low at VND739.04 billion ($35.5 million).

“This session’s gain was mainly helped by foreign investors,” said an analyst.

Domestic investors did not show encouragement as mid-cap and penny stocks largely fell. “The VN-Index and blue-chips rose, but I saw no profit in my portfolio,” said a Hanoi-based investor.

Hanoi Stock Exchange (HNX) advanced in line with the upward trend of the main HoSE bourse. The HNX-Index added 0.81 points (0.9 per cent) close at 90.93 point, after falling for a while at the beginning.

Liquidity strongly dropped to VND368.52 billion ($17.8 million), with volume standing at 24.7 million shares.

Kim Long Securities (KLS) saw the third hitting floor session, right after the major brokerage firm unveiling the plan withdrawing from securities business.

Some 142 stocks were up compared with 136 down on the northern bourse. Foreigners continued net sold with net selling value of VND3 billion ($144,900), largely focusing on KLS.